A Worldwide

Gaming

Technology &

Media Company

ValetNoir, Inc1140 Broadway, Suite 903

New York, NY 10001 Phone (888) 623-1717 Direct (212) 461-1801

ValetNoir, Ltd.

Meadow Drove

Suite #11

Bourne

Lincolnshire PE10 0BP

Confidential & Proprietary 2

“Gambling revenues at US

commercial casinos rose

nearly seven per cent to a

record $32.42 billion in

2006.”

--AGA May 2007

“According to a new report,

the online gaming industry

will quadruple by 2020 and

will top €13 billion in 2010.”

--iResearch May 2007

Confidential & Proprietary 3

RF&B provides a global

network that automates

transactions between

Casinos and Players.

“RFB” is the status

of the most-loyal

players getting

free rooms, food and

beverage

during their stays.

Confidential & Proprietary 4

RF&B electronically books players into

participating properties and in exchange

receives a portion of the casino’s revenue

as a brokers fee. Casinos are regulated

like banks, so payment is prompt.

Payments continue any time the player

returns to the same property.

US Regulation

• Business model unaffected by the US enactment of the Unlawful

Internet Gambling Enforcement Act ("UIGEA").

• Company legally receives revenue share of play as a licensed

Independent Casino Representative with Gaming Board approvals in

the US States of Nevada, Mississippi, Louisiana, New Jersey,

Connecticut, Iowa, North Carolina; Internationally on Cruise Lines of

NCL, RCCL, Celebrity; With Canadian Government Gaming licenses

in Quebec.

Confidential & Proprietary 6

Company

Founded 2001

RF&B USA brand created in 2005

ValetNoir, Ltd (UK) created in 2006

New York, Las Vegas, London

Confidential & Proprietary 7

Management

George Nassef, President & Founder – Managing Director: American Airlines

Managing Director: SABRE,

Chief Information Officer: HotJobs.com

Kelly Michaelian, SVP Ops & Admin – GAP, HotJobs.com, Yahoo!

Jeffrey Yang, SVP & CTO –UBS/Warburg, HotJobs.com

Lisa Montalto, SVP Business Development – Biztravel.com, Terra/Lycos

Confidential & Proprietary 8

Our Industry Segment:

Representative-Brokered Gaming

Revenue Worldwide

($9 Billion Annually)

• 1,500 Resort Casino Destinations Worldwide

• Over 3,000 Independent RepsWorldwide

100%

Billions Wagered

Confidential & Proprietary

Target Customer

• Median age of RF&B client is

51.8 Years of Age.

• 67% are female, prefer slots to

tables and are avid travelers.

• Whales are not our market.

• Middle Tier Players offer

highest lifetime value.

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Target Customer

76 Million Baby Boomers.

UK Baby Boomers hold 80% of

country’s wealth.

In 2006, the first wave of baby boomers

reached retirement age.

“Ratio of the number of people ages 65

and over to the number ages 20 to

64 is expected to grow from about

20% in 1997 to 41% in 2050.”

Confidential & Proprietary 10

Confidential & Proprietary

Market Overview - US

11

• 46 out of 50 US States permit legal gambling

• NV alone has 2,539 Licensed Establishments*

• Las Vegas Gaming Revenue $6.0B in 2006*

*Source: Citigroup Equity Research May, 2007 Monthly Report

Confidential & Proprietary 12

52,500

70,000

2007 2008 2009

$57,000

$61,000

$64,100

US Gaming Revenue (Millions)*

*Source: Global Gaming & Entertainment Outlook, PriceWaterHouseCoopers

Confidential & Proprietary 13

0

5000

10000

15000

20000

2007 2008 2009

$13,578

$15,866

$18,485

Asia Gaming Revenue (Millions)*

*Source: Global Gaming & Entertainment Outlook, PriceWaterHouseCoopers

Confidential & Proprietary 14

0

40

80

120

160

2007 2008 2009

$108

$126

$150

Latin American Gaming Revenue (Millions)*

*Source: Global Gaming & Entertainment Outlook, PriceWaterHouseCoopers

Confidential & Proprietary 15

2000

3000

4000

2007 2008 2009

$3,035$3,150

$3,227

Canadian Gaming Revenue (Millions)*

*Source: Global Gaming & Entertainment Outlook, PriceWaterHouseCoopers

Confidential & Proprietary 16

8000

12000

16000

2007 2008 2009

$12,020

$13,161

$14,309

EMEA Gaming Revenue (Millions)*

*Source: Global Gaming & Entertainment Outlook, PriceWaterHouseCoopers

Confidential & Proprietary

Market Growth – Native American Casinos

($ in Billions)

*Source: Citigroup Equity Research May, 2007 Monthly Report

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0.

6.

12.

18.

24.

1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005

Confidential & Proprietary 18

Competitors3,000 Small Businesses

Feed Brands

regional

Lack technology

High touch

High service

Confidential & Proprietary 19

Problem: Industry

Our Competitors: • Non-automated.• Do qualification, sourcing &

reservations via phone/paper/fax. • Do math, commissions and payout

calculations by hand.• Cannot equate property-specific

rules, payouts, house advantage and comp rules mentally or real-time.

• Max out at a few hundred active players and a handful of properties.

Confidential & Proprietary

Our Comp Shopper Technology*

www.rfandb.com and

www.valetnoir.co.uk

Online Booking of

Free Casino Rooms,

Click to Book,

Based on Player’s

Actual Play History

*Proprietary technology. Patent-Pending.

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Confidential & Proprietary 21

Problem: Player Perspective

Players spend all

their time at one

property brand

and cannot bridge

loyalty programs

to use comps at

other brands

without playing

there first.

Confidential & Proprietary 22

Revenue Sources

$, €, £, ¥

Recurring Revenue Model

Player Takes Trip to Property

Property Ties Player

Source to us for 18 months Property Pays

Commission

Player earns

Rewards.

Confidential & Proprietary 24

Calculation of Our Commissions

Formula: Bet Amount x Bets x Simultaneous Hands/Machines Played x House Advantage x Play Time

Units Dollars Hour Machines 100 Hours

Qualify

BookCollect

$$$

Client Booking Cycle

1. Qualify Electronically

2. Book Electronically

3. Collect for Each Trip

Payout:

18 months

Per property

Per player

Confidential & Proprietary 26

Company Assets

Proposed M&A will push

registered members past

1 Million mark.

Proposed M&A will bring

33% of USA land casinos

into RF&B network with

substantial growth potential

internationally.

Confidential & Proprietary

Membership Growth – Size of Our Database

Affiliate Marketing

Co-Registration

Referral Program

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Confidential & Proprietary 28

Magazine Advertising Clients

Mandalay Bay (MGM/Mirage)

Starwood “W” Hotel & Residences

Don Julio

Casa Noble Tequila

Party Gaming

Kathy Van Zeeland

Marquis Jet

N9ne Group

Gevril Watch

Fiesta Casino, Costa Rica

Fashion Mall, Las Vegas

Havana Cigars

House of Blues

Southpoint Hotel And Casino Las Vegas

Walters Golf Las Vegas

Pinnacle Estates

Valef Yachts

Golden Platter Sports

B. Makowsky Leather

Kathy Van Zeeland Designers

Tiganello Fashions

Jewel of Russia Vodka

Sotheby’s

Coldwell Banker

MarquisJet

CLS Limo

Goldmund Sound

Ferraro’s

Playboy

Confidential & Proprietary 29

UK Subsidiary Advertising Clients

William Hill PLCRoxy PalaceCarmen MediaBetRevPartner LogicHarrodsVictor ChandlerGamShareMiami ParadiseWebstorm Media888Party GamingBelle Rock EntertainmentPaddy PowerEuro Gaming LtdBetfair PokerMGCLadbrokes Ltd

Confidential & Proprietary

Our Systems

Connect to Casino Marketing Systems

Transmit Requests for Comps

Accept Status

Presents Online to Player

Permit N-way Comp Evaluation

Let Players See Worldwide Comp Options

Extensible to Online Gaming Opportunities

LAMPS Architecture

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Confidential & Proprietary 31

United StatesHarrah’s Hotel & Casino, Las Vegas Diamond Jo’s, Iowa

Harrah’s Hotel & Casino, Laughlin

Harrah’s Hotel & Casino, Reno

Harrah’s Rincon

Harrah’s Hotel & Casino, Tahoe

Harvey’s Hotel & Casino, Tahoe

Las Vegas Hilton

New York-New York Hotel & Casino

Paris Las Vegas

Rio All-Suite Hotel & Casino

Bally’s Atlantic City

Bally’s Las Vegas

Caesars Palace Atlantic City

Caesars Palace Las Vegas

Celebrity Cruise Line

Flamingo Las Vegas

Hard Rock Hotel & Casino Las Vegas

Harrah’s Casino, Louisiana Downs

Harrah’s Casino, New Orleans

Harrah’s Casino, Shreveport

Harrah’s Hotel & Casino, Atlantic City

Luxor Hotel and Casino, Las Vegas

Golden Nugget Casino, Las VegasGrand Tunica

Grand Biloxi

CaribbeanAtlantis, Paradise Island, Bahamas

Wyndham Aruba, Marriott Aruba

Marriott St. Kitts, St. Maarten

Crystal Palace Casino

El San Juan - Puerto Rico

El Conquistador - Puerto Rico

CanadaCasino Niagara

Niagara Fallsview Casino

Casino De Montreal

Casino Du Lac-Leamy

Casino De Charlevoix

EuropeClub Casino Loutraki - Greece

Cruise LinesNorwegian Cruise Lines

Royal Caribbean Cruise Lines

Celebrity Cruise Lines

Current Contracts & Licenses by Region 5/1/2007

Historical Financial Performance ($ in 000’s)

($375.0)

$0.0

$375.0

$750.0

$1,125.0

2003-A 2004-A 2005-A 2006-A

Revenue

EBITDAO

428% CAGR

$-

$10,000

$20,000

$30,000

$40,000

2007 2008 2009

$6,927

$18,434

$39,120

$1,565

$6,405

$25,128

Revenue EBITDAO

Forecasted Financial Performance ($ in 000’s)

Confidential & Proprietary 34

Use of Proceeds

Acquisition and operational roll-up several identified competitors with:

Most-complimentary networks of casinos or mailing lists including entire family of

MGM/Mirage & Mandalay Bay Properties Worldwide, foreign casinos in South

America, Caribbean, Europe and Asia.

Extensive high-value database of players with proven play records to leverage max

database advertising value and travel value.

Good fit operationally.

M&A Prospects

Company Mailing List Inventory Revenue Impact

Company 1: 100,000 Nationwide +$1 Million

Company 2: 50,000 70 Additional Properties +$500,000

Company 3: 210,000 International + Canada +$1.3 Million

Company 4: 82,000 Nationwide +$350,000

Confidential & Proprietary

Seeking

• A lead financial firm (partner) for:

– Immediate £3 Million Private Equity Financing

– With Extensive Practice Areas in M&A.

– Solid sponsor/NOMAD practice for future LSE/AIM filing.

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